Co-founders to top executives of Zomato Ltd. will turn millionaires as the restaurant discovery and food delivery platform debuts on the bourses on July 23.
The Ant Financial-backed unicorn’s Rs 9,375-crore initial public offering was subscribed 40.38 times. It issued shares at Rs 76 apiece.
At that value, co-founder Deepinder Goyal has the highest employee stock options worth Rs 2,800 crore, according to the red herring prospectus. Goyal separately owns more than 5% in Zomato.
Ankit Kwatra, founder of Feeding India non-profit that Zomato acquired, ranks second with options worth Rs 628 crore. Zomato co-founders Mohit Gupta, Gaurav Gupta, and Gunjan Patidar’s ESOPs are worth Rs 207.8 crore, Rs 202.4 crore and Rs 156.2 crore, respectively.
Chief Financial Officer Akshant Goyal’s options are valued at more than Rs 100 crore. ESOPs of Vijay Lancy, badminton player and coach, are worth Rs 74 crore. Lancy is associated with Fitso, the sports facility discovery app that Zomato acquired.
Founded in 2008, Zomato elevated Pankaj Chaddah, Chopra, Patidar, Gaurav and Mohit to the status of co-founders in the last one year. Chaddah quit in 2018.